Knight Frank has released its latest reports for key town and city prime markets across the UK. The reports cover the prime markets in Bath, Bristol, Cheltenham, Exeter, Oxford and Winchester and can be viewed in full on the Knight Frank website.
The reports examine the city markets in detail, tracking property price movements over the past 3, 6 and 12 months. The property market in Oxford has started to decline in value, down by 0.9% in the three months to the end of June and only up by 0.8% in the previous year. Price growth in Winchester is also flat, up by 0.4% in Q2 and 1.4% for the year. Bath fared slightly better, with annual growth of 4.7%, but the other three regional prime markets (Bristol, Cheltenham and Exeter) have all seen annual property price growth in excess of 5%.
Property prices in Bristol rose by 2% between April and June, building on 2.8% growth in the first three months of the year. On an annual basis, property values in the city were up by 7.4% year-on-year.
Robust price growth has been matched by an increase in activity at the top end of the market, which indicates an improving level of confidence among buyers. Land Registry data shows there was a 16% increase in the number of transactions of homes worth £500,000 or more in the 12 months to June.